Monday, January 07, 2019 12:12:35 AM
They made $52mln but only $13mln gross profit.. add to this their expenses and you get $10mln LOSS for last year.
They had recent offering to get cash and they do show bunch of cash at the end of August but I remember reading under subsequent events that they pulled $4mln from credit line in November.. does it mean they already burnt all that cash from offering ? Well, they will have some interest rates expenses on a top of everything now..
Btw. Last year it was actually vaporizers that brought the most revenue and not packaging.. but they do mention in their 10k that they are going to get hit with tariffs which will make their product more expensive..
From their 10k:
"China that will potentially be subjected to a 10% tariff until 2019, when the tariffs will increase to 25%. These tariffs apply primarily to our vaporizer and vaporizer accessory products, and as a result, the cost of our products may increase. In addition, any such additional tariffs may also make our products more expensive for consumers, which may reduce consumer demand."
There is more things that I don't like in last 10k but will check out their Q1 coming in a week or so to see if they are going to make it or break it.. they are on a thin line imo
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